Definitive Healthcare Corp. · NASDAQ:DH
Definitive Healthcare — Q4 2024 Earnings Presentation
19 slides from Definitive Healthcare's earnings presentation, Feb 27, 2025
Slide 1: Fourth quarter 2024 earnings presentation
Fourth quarter 2024 earnings presentation February 27, 2025
Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements This presentation includes forward-looking statements that reflect our current views with respect to future events and uncertainties materialize, or should any of our assumptions prove incorrect, our actual financial condition, results of fin
Slide 3: Q4'24
Q4’24 3
Slide 4: Q4 2024 Performance Highlights
Q4 2024 Performance Highlights “Revenue and adjusted EBITDA were above the high end of our guided ranges despite challenging commercial conditions. We executed on (6%) delivering new business growth, securing new logos and expanding Revenue Decline YoY relationships with existing customers through u
Slide 5: Q4 2024 Results
Q4 2024 Results (P&L on non-GAAP basis) ▪ Q4 Performance above high end of guided ranges Revenue Mix ▪ Adjusted EBITDA margin decline on down revenue $ Millions Subscription, 97% mix Q4'24 Q4'23 YoY Change except per share amounts (4%) YoY revenue decline Total Revenue $62.3 $65.9 (6%) Professional
Slide 6: Q4 2024 Cash Flow and Balance Sheet Highlights
Q4 2024 Cash Flow and Balance Sheet Highlights $ Millions Q4'24 Q4'23 YoY Change Cash Flow from Operations $8.1 $4.7 73% Unlevered Free Cash Flow1 ($1.6) $11.1 (114%) $72.5 million TTM uFCF, +6% growth YoY Dec 31, Dec 31, $ Millions YoY Change 2024 2023 92% Cash, cash equivalents & short-term invest
Slide 7: Guidance
Guidance 7
Slide 8: Q1 and FY 2025 Guidance
Q1 and FY 2025 Guidance (as of February 27, 2025) $ MILLIONS, except percentages and per share info First Quarter 2025 Full Year 2025 ▪ Our full year 2025 guidance reflects our Revenue $55.5 - 57.0 $230.0 - 240.0 view of the year under existing % change YoY (13%) - (10%) (9%) - (5%) macroeconomic co
Slide 9: Appendix
Appendix Non-GAAP reconciliations & basis of presentation 9
Slide 10: Q4 Performance and Guidance
Q4 Performance and Guidance $ MILLIONS, except Fourth Quarter 2024 Guidance Range percentages and per share info Revenue $62.3 $60.0 - 61.0 ▪ Q4 results were above the high end of the guided range % growth YoY (6%) (9%) - (7%) o Revenue decline of (6%) was driven by low single-digit 1 Adjusted Opera
Slide 11: Key Shareholder Statistics
Key Shareholder Statistics Comments Public Shares Minority Interest ▪ 21K Class B shares were exchanged into Key shareholder statistics as of 12/31/2024 (Class A) (Class B) Combined Class A public shares in the quarter Sponsor ownership (as-if converted) 63,935,333 13,843,158 77,778,491 ▪ 0.1M Class
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures We define Unlevered Free Cash Flow as net cash provided by (used in) operating activities less purchases of property, equipment and other assets, plus cash interest expense, and cash payments related to transaction, integration, and restructuring related expenses, earnout
Slide 13: Reconciliation from GAAP gross profit and margin to adjusted gross profit and margin
Reconciliation from GAAP gross profit and margin to adjusted gross profit and margin THREE MONTHS ENDED DECEMBER 31, TWELVE MONTHS ENDED DECEMBER 31, $ THOUSANDS 2024 2023 $ % 2024 2023 $ % GAAP Gross Profit $47,602 $53,419 ($5,817) (11%) $197,469 $203,933 ($6,464) (3%) Amortization of intangible as
Slide 14: Reconciliation from GAAP to non-GAAP operating expenses
Reconciliation from GAAP to non-GAAP operating expenses THREE MONTHS ENDED DECEMBER 31, TWELVE MONTHS ENDED DECEMBER 31, $ THOUSANDS 2024 2023 $ % 2024 2023 $ % GAAP Sales & Marketing $20,372 $23,605 ($3,233) (14%) $83,807 $94,534 ($10,727) (11%) Equity-based compensation (1,449) (3,110) 1,661 (53%)
Slide 15: Reconciliation from net loss to adjusted operating income and adjusted net income
Reconciliation from net loss to adjusted operating income and adjusted net income THREE MONTHS ENDED DECEMBER 31, % of Revenue TWELVE MONTHS ENDED DECEMBER 31, % of Revenue $ THOUSANDS 2024 2023 $ % 2024 2023 2024 2023 $ % 2024 2023 GAAP Net loss ($84,717) ($13,362) ($71,355) >100% (136%) (20%) ($59
Slide 16: Reconciliation from net loss to adjusted EBITDA
Reconciliation from net loss to adjusted EBITDA THREE MONTHS ENDED DECEMBER 31, % of Revenue TWELVE MONTHS ENDED DECEMBER 31, % of Revenue $ THOUSANDS 2024 2023 $ % 2024 2023 2024 2023 $ % 2024 2023 GAAP Net loss ($84,717) ($13,362) ($71,355) >100% (136%) (20%) ($591,446) ($289,627) ($301,819) >100%
Slide 17: Reconciliation from cash flow from operations to unlevered free cash flow
Reconciliation from cash flow from operations to unlevered free cash flow THREE MONTHS ENDED DECEMBER 31, % of Revenue TWELVE MONTHS ENDED DECEMBER 31, % of Revenue $ THOUSANDS 2024 2023 $ % 2024 2023 2024 2023 $ % 2024 2023 Cash Flow from Operations $8,135 $4,709 $3,426 73% 13% 7% $58,196 $41,190 $
Slide 18: Schedule of transaction, integration and restructuring expense and other non-core items
Schedule of transaction, integration and restructuring expense and other non-core items THREE MONTHS ENDED DECEMBER 31, TWELVE MONTHS ENDED DECEMBER 31, $ THOUSANDS 2024 2023 2024 2023 Merger and acquisition due diligence and transaction costs $919 $1,308 $3,330 $5,419 Integration costs 176 129 1,11
Slide 19: Basis of presentation
Basis of presentation Enterprise Customers: Customers generating more than $100,000 in ARR RPO: Represents the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized in the futur
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